Key Takeaways
- • The American Investment Council (AIC) promotes private credit as a financing source for small and mid-sized businesses that may lack access to traditional bank loans, according to its industry webpage.
- • The AIC cites $625 billion invested in more than 3,700 U.S. companies in 2024, supporting 2.5 million jobs and $217 billion in wages and benefits.
- • The median company receiving private credit has 182 employees, per the AIC.
- • The AIC states private credit funds are regulated by the SEC and cites a GAO report and a Federal Reserve report that it says found no significant financial stability vulnerabilities.
- • Institutional investors such as pension funds, insurers and endowments are described as the primary funding base for private credit.
Summary
The American Investment Council (AIC), described as the leading trade association for private credit in Washington and representing more than two-thirds of the industry, has published a promotional overview of the asset class. The AIC positions private credit as a complement to traditional bank lending, offering flexible, long-term capital to businesses across manufacturing, healthcare, infrastructure, energy, technology and IT. Unlike private equity, which takes ownership stakes, private credit provides loans tailored to borrower needs in covenants, timelines and financing structures.
The AIC's headline figures for 2024 are $625 billion invested in more than 3,700 U.S. companies, supporting 2.5 million jobs with $217 billion in wages and benefits. The organization says the median company receiving private credit employs 182 people. The page also features testimony from Otter Learning founder and CEO Chase Begor, who said private credit enabled his company to expand employee health, dental and vision coverage and retirement benefits.
On regulation, the AIC states that private credit funds are well regulated by the U.S. Securities and Exchange Commission. It cites a U.S. Government Accountability Office report finding lending practices appropriate and underwriting adequately protective of lenders, and a Federal Reserve report concluding that private credit funds do not pose significant financial stability vulnerabilities. These claims are the AIC's characterization of the reports and are presented in the context of the organization's advocacy. The AIC also highlights its recent comment letters to Treasury and the Department of Labor, and its public statements on carried interest legislation, as part of its policy engagement.
The AIC's headline figures for 2024 are $625 billion invested in more than 3,700 U.S. companies, supporting 2.5 million jobs with $217 billion in wages and benefits. The organization says the median company receiving private credit employs 182 people. The page also features testimony from Otter Learning founder and CEO Chase Begor, who said private credit enabled his company to expand employee health, dental and vision coverage and retirement benefits.
On regulation, the AIC states that private credit funds are well regulated by the U.S. Securities and Exchange Commission. It cites a U.S. Government Accountability Office report finding lending practices appropriate and underwriting adequately protective of lenders, and a Federal Reserve report concluding that private credit funds do not pose significant financial stability vulnerabilities. These claims are the AIC's characterization of the reports and are presented in the context of the organization's advocacy. The AIC also highlights its recent comment letters to Treasury and the Department of Labor, and its public statements on carried interest legislation, as part of its policy engagement.
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